Trump's Globalist Era Will Make Everyone Poorer, Says Jonah Goldberg
In a thought-provoking analysis, Jonah Goldberg, editor-in-chief of The Dispatch, warns that the emerging post-globalist era under U.S. President Donald Trump is poised to make people poorer. Published on January 24, 2026, Goldberg's commentary delves into the economic implications of Trump's unorthodox approach to international trade and governance.
A Flawed Department Store Analogy
Goldberg begins by drawing a vivid analogy: imagine inheriting a thriving department store chain and, instead of relying on expert advice or market research, making decisions based on gut feelings and personal favoritism. This, he argues, is precisely how Trump views America's role in the global economy. Trump has described America as "a department store, and we set the price," a perspective that Goldberg criticizes for its economic illiteracy.
The core issue, according to Goldberg, is that tariffs—often paid by American consumers—are used as tools to enforce Trump's whims rather than sound economic principles. He cites a recent example where Trump threatened to tear up trade deals with eight European allies and impose tariffs unless they acquiesced to his demands for Greenland. Such actions, Goldberg asserts, introduce volatility and uncertainty into international markets.
The Rise of Political Favoritism
Goldberg contrasts Trump's approach with traditional progressive populism, such as that of Senator Elizabeth Warren, who advocates for policies like capping credit card interest rates based on ideological frameworks. While Goldberg acknowledges that some regulations, like child labor laws, are justified, he warns against the broader trend of replacing economic decision-making with political expediency.
"For Trump, sound business practices are the deviation from his policy of favouritism," Goldberg writes. This favoritism extends beyond personal connections to include geopolitical considerations, forcing corporations worldwide to reorganize supply chains and make less efficient decisions to hedge against political risks.
The Economic Consequences of Inefficiency
The shift towards a post-globalist era, Goldberg argues, leads to decreased efficiency and productivity. As companies allocate capital based on geopolitical lines rather than market optimization, wealth creation and growth suffer. "Less efficiency equals less productivity. Less productivity equals less wealth creation and growth," he emphasizes.
Goldberg points to reports from sources like The Economist, highlighting how multinational companies are increasingly making defensive decisions to avoid political backlash. This trend, he notes, undermines the principles of free markets that many conservatives once championed, particularly during the Obama era when concerns about "crony capitalism" were prevalent.
A Call for Reflection
In conclusion, Goldberg expresses skepticism towards both Warren's ideological bookshelf and Trump's gut-driven approach. He warns that outsourcing economic decision-making to a single individual, as seen with Trump's tariffs and trade policies, will result in widespread economic hardship. The new era, he predicts, will leave most people poorer due to these distortions in global markets.
Goldberg's analysis serves as a stark reminder of the potential costs when political considerations override sound economic practices, urging readers to consider the long-term implications for prosperity and stability in an increasingly interconnected world.
